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Equity fund inflows finally returned in April, but oil shock meant only US-heavy funds benefitted

Fund Flow Index - May 2026

UK investors jumped back into equity funds in April after a record 10-month stint of selling. They added a net £1.08bn, making April 2026 the best month for inflows since April 2025.

Key highlights from this month's FFI:

  • UK investors returned to equities in April, adding £1.08bn after 10 straight months of selling.
  • Flows were concentrated in US and global funds (which are US-dominated)
  • All other regions saw outflows, with Asia Pacific and emerging markets hardest hit
  • Passive funds dominated, with £2.63bn of inflows versus £1.55bn of active outflows
  • Money market outflows and stabilising bond flows suggest investors began taking on more risk